KEC International moves up on strong Q3 results

KEC International rose 4.79% to Rs 364.50 at 10:17 IST on BSE after consolidated net profit jumped 79% to Rs 112 crore on 22% rise in revenues to Rs 2405 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 6 February 2018.

Meanwhile, the S&P BSE Sensex was up 139.97 points, or 0.41% to 34,335.91. The S&P BSE Mid-Cap index was up 209.40 points, or 1.29% to 16,490.49, outperforming the Sensex.

On the BSE, 51,629 shares were traded in the counter so far, compared with average daily volumes of 1.11 lakh shares in the past one quarter. The stock had hit a high of Rs 372 and a low of Rs 360.50 so far during the day. The stock had hit a record high of Rs 395 on 9 January 2018. The stock had hit a 52-week low of Rs 152 on 7 February 2017.

The stock had underperformed the market over the past one month till 6 February 2018, falling 7% compared with 0.12% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 10.24% as against Sensex's 1.38% rise. The scrip had also outperformed the market in past one year, jumping 126.02% as against Sensex's 20.24% rise.

The mid-cap company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.

Earnings before interest, tax, depreciation and amortization (EBITDA) margin rose to 10% in Q3 December 2017 from 9% in Q3 December 2016.

The company's current unexecuted order book stands at Rs 17148 crore. The company has achieved year till date order inflows of Rs 11300 crore.

Vimal Kejriwal, MD & CEO, KEC International said that revenue and profitability are growing in accordance with the expectations. The company's robust order book and a strong lowest bidder (L1) pipeline gives company confidence to achieve growth targets.

Separately, KEC International said that it has secured new orders of Rs 2035 crore across its businesses.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major.

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